Novo Nordisk included in Climate Leadership Index
-September 2005
Novo Nordisk has been honoured by the Carbon Disclosure Project, a group of leading institutional investors, as ’Best in Class’ in its approach to addressing the challenge of climate change.
In its report Carbon Disclosure Project 2005, Novo Nordisk was included in the ‘Climate Leadership Index’, as one of 60 leading global corporations that are actively addressing the societal and business implications of climate change and have shown leadership in their survey responses to the Carbon Disclosure Project.
The selection of Novo Nordisk in the index is based on the company’s reporting of greenhouse gas emissions and an independent assessment of Novo Nordisk’s strategic response to the risks and opportunities of a carbon constrained environment, as well as the quality and effectiveness of programs put in place to reduce overall greenhouse gas emissions.
“Climate change is a global issue that can only be addressed through leadership, innovation and partnerships. This recognition of Novo Nordisk’s contribution is a valuable motivation for us to continue our efforts to mitigate climate change,” says Lise Kingo, Executive Vice President, Corporate Stakeholder Relations.
Targeted steps to reduce emissions of greenhouse gases Novo Nordisk’s strategic approach is defined by its partnership with WWF, the Worldwide Fund for Nature. As part of the partnership, Novo Nordisk will set a target to reduce its direct and indirect CO2 emissions by 2014, a period during which Novo Nordisk’s emission is projected to rise by approx 60% if no emission reduction programmes were put in place. The target will reflect absolute reductions, ie lower emissions of greenhouse gases measured in volume, irrespective of increased production volumes.
“Novo Nordisk has set itself apart by enacting a commendable response to global climate change,” said Paul Simpson, CDP project manager. “The global investment community is keenly aware of the risks associated with climate change and hope corporations such as Novo Nordisk provide a solid example for others in its peer group to follow. The companies represented in the Climate Leadership Index are united in their comprehensive knowledge of climate risks and active management of greenhouse gas issues.”
‘Best in Class’
Candidates for the Climate Leadership Index were assessed relative to their peers in twelve sectors for whom climate change is deemed to be a critical issue. Novo Nordisk was judged among the best in the healthcare sector. Companies were assessed on the basis of their strategic awareness of the issue, their risk management capability, and strategic positioning vis-à-vis ‘next generation’ opportunities.
The 155 institutional investors in the Carbon Disclosure Project represent 22 trillion USD in assets under management. With this initiative the groups seeks to use the Climate Leadership Index as a means to highlight ‘Best in Class’ corporate approaches to reduce greenhouse gas emissions and reduce risk associated with global climate change.
